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Identify a false statement: * a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the O sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above

Identify a false statement: * a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the O sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Identify a false statement: a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above
Transcribed Image Text:Identify a false statement: a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above
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